No Runny Eggs

It’s hard to know exactly how to respond to the “compromise” reached by Obama and the Republicans on extending the current tax rates.  On the one hand, it’s a lot of fun watching the lefties lose all hope and be willing to vote to change Obama.  In some ways, I fee sorry for them.  Their looks are probably similar to the looks many of us conservatives had as Bush talked about immigration amnesty or nominated Harriet Miers to the Supreme Court.  However, my pity doesn’t prevent me from wanting to get one of those big, refillable buckets of popcorn and watching the event.  Heck, I’ve even contemplated what conflagration grenade Boehner or McConnell could toss in so that we could watch a full meltdown!

On the other hand I think, “what a missed opportunity!”  Obama was in a no win situation.  He knew that if he didn’t get a deal done now, the new Congress would have enough votes and public support, to extend the rates, perhaps permanently.  In that case, he would have the choice of vetoing the bill and dealing with that public relations mess or signing it and putting a permanent “don’t mind me” stamp on his forehead.  For that reason, I am challenged by the Republicans agreement to extend the unemployment benefits.  It’s going to be a long two years if this is how Boehner and McConnell do political calculating.

I don’t know what the exact reason was; attempt to gain favor with Obama, concern about public relations or sheer miscalculation but the Republicans could have gotten their tax rate extension with nothing added to it.  In fact, if Obama had pressed the issue of the unemployment benefits and assuming that the Republicans weren’t willing to face the stand off for principle, they should have made a counter offer.  In exchange for the increased unemployment, Obama would immediately remove all drilling moratoriums he had put in place.  The Republicans explanation, after all of the sputtering, would be that the unemployment extension was unfunded.  Nancy Pelosi herself has been telling us for two years how we should work on a “pay-go” basis.  While the best situation would have been to cut spending in the budget so the benefits would be deficit neutral, the second best option would be to remove the moratoriums which would have multiple benefits.  First, it would actually do something to increase employment, as opposed to the nothing but talk that Obama does about the topic.  Second, if you haven’t noticed, oil and gas prices have been going up again.  Folks, we haven’t even seen the US with much more then a faint economic pulse.  If/when the economy becomes a last mile of a marathon, heart pounding rate, the demand for oil is going to push gas well past the $4 mark.  Oh, and more expensive energy means more expensive food and more expensive other things.

The Republicans could have gotten more, much more for their deal.  That said, I hear the microwave beeping.  I think my first bucket of popcorn is ready.  Who’s head would you bet will explode first?